Marex Group plc Makes New $1.17 Million Investment in Agnico Eagle Mines Limited $AEM

Marex Group plc acquired a new position in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) during the 2nd quarter, Holdings Channel reports. The firm acquired 9,798 shares of the mining company’s stock, valued at approximately $1,165,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new stake in Agnico Eagle Mines during the second quarter valued at approximately $938,644,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Agnico Eagle Mines by 38.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,296,796 shares of the mining company’s stock worth $987,398,000 after acquiring an additional 2,319,131 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Agnico Eagle Mines by 48.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,528,022 shares of the mining company’s stock valued at $538,506,000 after acquiring an additional 1,474,385 shares during the period. Invesco Ltd. increased its stake in shares of Agnico Eagle Mines by 53.1% in the 2nd quarter. Invesco Ltd. now owns 4,164,046 shares of the mining company’s stock worth $495,230,000 after purchasing an additional 1,444,746 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Agnico Eagle Mines in the 2nd quarter worth $134,059,000. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. CIBC lifted their target price on Agnico Eagle Mines from $165.00 to $231.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Bank of America lifted their price objective on Agnico Eagle Mines from $209.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Agnico Eagle Mines in a research note on Monday, December 8th. TD Securities raised their target price on shares of Agnico Eagle Mines from $154.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group set a $189.00 price target on shares of Agnico Eagle Mines in a report on Sunday, December 7th. Six analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Agnico Eagle Mines currently has a consensus rating of “Buy” and an average target price of $201.60.

Agnico Eagle Mines Stock Down 1.3%

Shares of AEM opened at $168.18 on Monday. The business’s 50 day moving average is $166.79 and its 200 day moving average is $145.69. The company has a current ratio of 2.12, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. Agnico Eagle Mines Limited has a 12-month low of $76.91 and a 12-month high of $187.50. The company has a market capitalization of $84.38 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 0.61 and a beta of 0.64.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last announced its quarterly earnings data on Wednesday, October 29th. The mining company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.40. Agnico Eagle Mines had a net margin of 32.62% and a return on equity of 15.64%. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the firm posted $1.14 EPS. Research analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.